Market Size of Global PE Films Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 4.10 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | Asia-Pacific |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
PE Films Market Analysis
The Global PE Film Market is expected to grow by registering a CAGR of 4.1% during the forecast period (2022-2027). The rising adoption of PE films across various sectors such as food & beverage, retail packaging, agriculture, and household is driving the growth of the studied market.
- Polyethylene (PE) film is essentially a plastic film made primarily of hydrocarbons. The films are commonly used as a protective barrier in applications such as packaging, concrete & mortar, exterminating, and even pest control and waterproofing. As these films can be reused and can stand up to UV degradation for several years, they are extensively used for a number of household and commercial applications.
- The growth of the flexible packaging industry is significantly driving the growth of the studied market. For instance, as of August 2021, flexible packaging was the second largest packaging segment in the U.S., garnering about 19% of the USD 177 billion U.S. packaging market. (Source: Flexible Packaging Association (FPA))
- Food and beverage is another major industry wherein PE films are used extensively. For instance, in food & beverage industry, Polyethylene films are used for various applications such as packaging in-store products such as non-frozen baked products, fruits & vegetables, and tray covers for delivery of baked food products due to their low melting point.
- The increasing consumption of packaged food is supporting the growth of the studied market. For instance, according to the U.S. Census Bureau's advance estimates, U.S. retail and food services sales for April 2022 were USD 677.7 billion, an increase of 0.9 percent from the previous month and 8.2 percent above April 2021.
- However, with consumers and brands shifting more towards sustainability and environmental friendliness, the demand for sustainable packaging solutions such as paper and recyclable plastic films is expected to grow, which in turn will negatively impact the growth of the studied market.
- A significant impact of COVID-19 has been observed on the studied market, as the major end-users of polyethylene films such as packaging, food & beverages, automotive, and construction were negatively impacted due to various restrictions imposed by the governments to curb the spread of the virus. However, with the restrictions being lifted almost across every part of the world, the market is expected to regain traction during the forecast period.
PE Films Industry Segmentation
Polyethylene Film (PE Film) is a thin plastic sheeting most often provided in rolls that exhibit lightweight durability and excellent tape adhesion properties. The study tracks the demand for PE-based films, with a breakdown for further resins such as LDPE, HDPE & LLDPE. Some of the key end-users for PE films include food & beverages, consumer packaged goods, pharma, industrial, and others.
By Type | |
LDPE | |
HDPE | |
LLDPE | |
Other Types |
By Application | |
Packaging Films | |
Bags & Sacks | |
Construction | |
Agriculture | |
Healthcare | |
Other Applications |
By Geography | |
North America | |
Europe | |
Asia Pacific | |
Rest of the World (Latin America and Middle East & Africa) |
Global PE Films Market Size Summary
The Global PE Films Market is experiencing growth driven by its widespread adoption across various sectors, including food and beverage, retail packaging, agriculture, and household applications. Polyethylene films, known for their protective barrier properties, are extensively used in packaging, construction, and pest control, among other applications. The flexible packaging industry significantly contributes to this market's expansion, with PE films being integral to packaging solutions that enhance product shelf life and protection. The food and beverage sector, in particular, relies heavily on these films for packaging non-frozen baked goods, fruits, and vegetables, supporting the market's growth. However, the increasing consumer and brand shift towards sustainable and environmentally friendly packaging solutions poses a challenge to the market's expansion.
The market's recovery is anticipated as COVID-19 restrictions ease, with sectors like packaging, food and beverages, and construction regaining momentum. The Asia Pacific region, witnessing a surge in construction activities and urbanization, is a key driver of demand for PE films. The competitive landscape of the Global PE Films Market is marked by the presence of several players focusing on product innovation and global expansion. Companies like Amcor Flexibles, Berry Global Inc., and Sonoco Products Company are actively developing new solutions to meet evolving market needs. Recent advancements, such as ExxonMobil's performance polyethylene resins and Reborn Group's de-inking line for recycling, highlight the industry's commitment to enhancing product performance and sustainability.
Global PE Films Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porters Five Force Analysis
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1.2.1 Threat of New Entrants
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1.2.2 Bargaining Power of Buyers/Consumers
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1.2.3 Bargaining Power of Suppliers
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Assessment of Impact of COVID-19 on the Studied Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 LDPE
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2.1.2 HDPE
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2.1.3 LLDPE
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2.1.4 Other Types
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2.2 By Application
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2.2.1 Packaging Films
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2.2.2 Bags & Sacks
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2.2.3 Construction
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2.2.4 Agriculture
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2.2.5 Healthcare
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2.2.6 Other Applications
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2.3 By Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia Pacific
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2.3.4 Rest of the World (Latin America and Middle East & Africa)
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Global PE Films Market Size FAQs
What is the current Global PE Films Market size?
The Global PE Films Market is projected to register a CAGR of 4.10% during the forecast period (2024-2029)
Who are the key players in Global PE Films Market?
Amcor Flexibles, Berry Global Inc., Constantia Flexibles LLC, Sonoco Products Company and Technipaq, Inc. are the major companies operating in the Global PE Films Market.